HomeMy WebLinkAboutResolution 2020-09 04/20/2020
CITY OF SPRINGFIELD, OREGON
RESOLUTION NO. ___________
FY 2019-2020 SUPPLEMENTAL BUDGET NO. 3
A RESOLUTION ADOPTING FY 2019-2020 SUPPLEMENTAL BUDGET NO. 3, MAKING
APPROPRIATIONS, AND AUTHORIZING AN INTERFUND LOAN
WHEREAS, the Common Council has adopted the budget and made appropriations for Fiscal Year (FY)
2019-2020 through Resolution 2019-15 adopted June 17, 2019, as amended by Resolutions 2019-22,
2020-03, 2020-06, 2020-07, and 2020-08;
WHEREAS, ORS 294.468 allows loans from any fund to any other fund of a municipal corporation
when the loan is authorized by official resolution of the governing body in compliance with Local
Budget Law;
WHEREAS, ORS 294.471 allows adoption of a supplemental budget under the circumstance of an
occurrence or condition that is not ascertained when preparing the original budget or a previous
supplemental budget for the current year or current budget period and that requires a change in
financial planning;
WHEREAS, Common Council adopted Resolution 2019-16 on June 17, 2019, authorizing the sale of
general obligation bonds authorized under Measure 20-296 approved by the voters of the City of
Springfield at the November 6, 2018 general election;
WHEREAS, at the time of the adoption of the FY 2019-2020 budget, the City anticipated that the first
payment of bond debt service would be made in July 2020 and therefore did not include said payment
in the FY 2019-2020 budget and appropriations;
WHEREAS, the first bond debt service payment of $2,1750,000 is due June 1, 2020 and therefore falls
within FY 2019-2020, which is an occurrence not ascertained when preparing the original budget or
prior supplemental budgets and requires a change in financial planning,
WHEREAS, the Common Council is requested to approve an interfund loan from the General Fund to
the Debt Service fund in the amount of $2,175,000, to be repaid in FY 2020-2021 at 0% interest; and
WHEREAS, the Common Council is requested to make adjustments to the fiscal year 2019-2020
budget and appropriations to support this interfund loan and the debt service payment,
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SPRINGFIELD:
Section 1: A loan of $2,175,000 is hereby made to the Debt Service Fund, from the General
Fund. Said loan shall be repaid in FY 2020-2021 at a rate of 0% interest.
Section 2: The fiscal year 2019-2020 budget and appropriations, as adopted by Resolution
2019-15 and amended by Resolutions 2019-22, 2020-03, 2020-06, 2020-07, and 2020-08 are hereby
adjusted as follows:
Page 1 of 3RESOLUTION NO. 2020-09
General Fund 100
FY20 Amended FY20 Amended
New Request
BudgetBudget
Resources*
FY20 Amended Resources$ 50,500,486-$ 50,500,486
Total Fund Resources 50,500,486 50,500,486
Requirements
FY20 Amended Operating Budget
City Manager's Office 1,816,355 - 1,816,355
Development & Public Works 2,831,218 - 2,831,218
Finance 2,388,253 - 2,388,253
Eugene Springfield Fire 12,076,623 - 12,076,623
Human Resourcers 592,290 - 592,290
Information Technology 2,162,350 - 2,162,350
Legal Services 747,373 - 747,373
Library 1,717,912 - 1,717,912
Police 15,557,892 - 15,557,892
Total Operating Budget 39,890,266 - 39,890,266
Non-Departmental Expenses:
Transfers 1,507,800 - 1,507,800
Interfund Loan - 2,175,000 2,175,000
Contingency 700,000 - 700,000
Reserves* 8,402,419 (2,175,000) 6,227,419
Total Non-Departmental 10,610,219 - 10,610,219
Total Fund Requirements$ 50,500,485$ -$ 50,500,485
Bond Sinking Fund 306
FY20 Amended FY20 Amended
New Request
BudgetBudget
Resources*
FY20 Amended Resources$ 4,702,067-4,702,067$
Interfund Loan Received2,175,0002,175,000
Total Fund Resources 4,702,067 2,175,000 6,877,067
Non-Departmental Expenses:
Debt Service 4,395,205 - 4,395,205
Unappropriated Balance* 306,862 2,175,000 2,481,862
Total Non-Departmental 4,702,067 2,175,000 6,877,067
Total Fund Requirements$ 4,702,067$ 2,175,000$ 6,877,067
*Resources and reserve amounts are not appropriated for spending and are shown for
information purposes only.
Page 2 of 3RESOLUTION NO. 2020-09
ADOPTED by the Common Council of the City of Springfield this ___ day of _________, ____,
by a vote of _____ for and ____ against.
_______________________
Mayor
ATTEST:
__________________________
City Recorder
4/20/2020
Page 3 of 3RESOLUTION NO. 2020-09